See what happens when massive additional QE is delayed by merely 3 weeks??
Layoffs In September EXPLODE 126% In Worst Month Since April 2009 Joe Weisenthal | Oct. 5, 2011, 7:34 AM
Just out from Challenger, the latest survey of job cuts:
Employers announced plans to shed 115,730 workers from their payrolls in September, making it the worst job-cut month in over two years. Heavy reductions planned by the military accounted for a large portion of September job cuts, signaling what may lie ahead as the federal government seeks across-the-board cuts in spending.
September job cuts were 126 percent higher than the 51,114 announced in August, according to the latest report on monthly job cuts released Wednesday by global outplacement firm Challenger, Gray & Christmas, Inc. They were 212 percent higher than September 2010, when employers announced just 37,151 job cuts. Last month’s total is the highest since April 2009, when 132,590 job cuts were announced.
Here’s the industry breakdown table.
Image: Challenger, Gray And Christmas